AC 2.3 An explanation of how the appraisal can be used to identify who is interested in progression, managing contingency, and mitigating risks through OcMara developing their talent pools

An appraisal can be defined as the formal process of evaluating a particular employee’s performance by comparing actual performance against a particular organisation’s set of goals. In most instances, it is conducted through a questionnaire or using a one-to-one discussion between employees and their managers (IB Business Management HL, n.d.). An appraisal can aid the manager and employee identify training and development needs. Additionally, appraisals allow organisations to recognise and reward their employees. Appraisals can also be vital for contingency planning. In particular, an organisation can use appraisals to assess and prevent or modify the impact associated with certain unacceptable risks. OcMara can adopt employee appraisal to establish key areas where employees need to advance their knowledge. Additionally, performance appraisals can provide OcMara management with an opportunity to receive employee feedback, which can also be vital for the organisation’s success.